Times have changed! COVID-19 has forced ALL of our lifestyles to change and that has transcended to how buyers and sellers are buying and selling homes.
Over the last few months, we have all spent more time in our homes than ever before.
And for many of us, we have come to realize that our home is too big, for others too small, maybe the floor plan is longer the right one, or maybe we realized our outdoor space is far too small, you name it we have all thought about something we would like to change.
But before you start searching for your next dream home, you’ll need to figure out when and how you’re going to sell your existing home.
The decision is a complex one, especially considering the unpredictable economic environment you’re living in.
And while there’s no magic formula for determining the best time to sell a home, always consult a professional that can help you navigate these key factors as well as provide solutions.
Selling during a worldwide pandemic
Safety should be a priority and the professional you hire should have a plan in place for contactless showings, should have a system in place for digital negotiations, and all of the technology needed to keep you and your loved ones safe, while obtaining top dollar for your home.
When is the best time to sell?
Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have passed, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best.
And while spring is the season that sees the largest amount of buyers, it’s also the season when inventories are highest. This means lots of competition, so if you’re going to sell in spring, you really need to get your property to stand out with effective marketing and staging.
The professional you hire should know the sales cycle for your neighborhood. He/she should be able to discuss cyclical data and develop a strategy that works for your ultimate plan.
Can I avoid a double move?
The short answer is YES! The ideal situation for every seller would be to avoid a double move and yet very few can actually accomplish this. For most of us, we need the equity from the home we currently own in order to be able to qualify for the next purchase. The professional you work with should have a strategy in place to help you avoid this at all costs. There are options out there, and with the right expectations, negotiations, and strategy plan a double move can be avoided.
The best day for selling
The professional you hire should have a “Coming Soon” strategy regardless of how hot the market is. According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home will have only been on sale for two days, which is great for attracting full-price offers. In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive.
Do I have to make repairs in an AS-IS world?
The short answer is No! However, not all repairs are created equal, some are cosmetic, some are deal-breakers and some will cost you pennies to fix but can add hundreds of dollars to the bottom line. We help all of your sellers focus on the right repairs, provide a list of our preferred vendors.